The global crypto market has seen a mixed trend over the last day. The performance of Bitcoin shows losses while the following ones continued to rise. The ongoing changes show that the market has remained uncertain. Despite the uncertainty, there is an overall trend of gains. As the current situation unfolds, there is a likely chance that the market will rise further in value. The bullish changes are a sign of the optimistic investors who would continue to pour their capital into the market.

Bitcoin Foundation chairman has called FTX collapse a big scam. Many top officials in the crypto market have commented on the current situation. Brock Pierce, the chairman of the Bitcoin foundation recently had an interview with Fox News. He said that the FTX collapse had wreaked havoc on the market. He further added that it was the biggest scam that he had ever witnessed.

Pierce, however, is of the view that the failure was not associated with technology or Bitcoin. Rather he said that the main reason behind its collapse was the lack of transparency and proper legacy. Despite the damage caused by one of the biggest events in the crypto industry, Pierce remains bullish on this industry. He is of the view that bad actors are not bad for the system, instead they help it improve.

Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.

BTC turns red

Bitcoin mining revenue has reached a two-year lowest as the hash rate is on…